Uniswap’s governance token, UNI, has made a big jump, rising 7.33% in the past 24 hours. The crypto token broke through several resistance points. It surged from an initial $6.9788 low, peaking at $7.7177 high by early Monday. High trading volume accompanied this price rally confirming bullish buyer interest and creating new support. The outlook for additional increases is attracting as much analyst attention, with some analysts setting targets approaching $10.
This bullish trending move started with UNI setting a firm base at $6.9788. The token then went on to break through resistance levels at $7.40 and $7.65 with ease. Data indicates a sharp increase in trading volume during the 02:00–05:00 GMT window, coinciding with the price surge past $7.40.
The price rally was marked by the formation of higher lows in a largely consistent upward pattern, indicating persistent bullish buying pressure. Whether attributable to the overall trend or simply coincidence, UNI broke out of recent consolidation, providing additional weigh on upward momentum. Another notable spike in volume occurred around 08:00 GMT, reinforcing the bullish sentiment.
In the Asia session, UNI was able to cleanly break out over multi-day major resistance of around $7.65. The token kept climbing, proving persistent demand from buyers. Having crossed the $7.60–$7.65 resistance area, UNI surged up to $7.7177. Volume spiked again during the 08:00–08:04 GMT interval as it surpassed $7.65, confirming the strength of the breakout. In the case of Uniswap’s UNI—which is up 2.8% intraperiod, rising from $7.67 over the last hour to $7.68—this recent hour has been particularly volatile.
"$UNI is breaking out with momentum and now has its sights set on $10" - Ali Martinez
